Trade Ideas Thursday 19 May 2016

Trade Ideas bring clarity into price-action

Hello traders, nice having you here! Hope you had a great trading session. Now I am here to show you levels of interest. As always I keep you updated through my blog and webinars I give. In this update I show you two pairs of interest wich have the best setups. Let me know if you like it.

GBP/CAD bull run exhausted

Chart_GBP_CAD_4 Hours_snapshot20160519TRa

After it’s big bull run this week, the pair seems to be exhausted. It shows a technical 4H exhaustion candle. Also the pair didn’t had any retracement at all. The EMA’s are still flat and still have to turn. So looks like a good moment for a breather in the market. As it turns friday that might be a good oppertunity to watch.

EUR/AUD flatliner giving up

Chart_EUR_AUD_4 Hours_snapshot20160519TR

The Euro Aussie pair has been topping out flatline for the past 1,5 week. In the meanwhile the RSI is showing some deserved divergence. Highlighting that momentum is slowing down, buyers are stepping off a bit. Support lower on the upsloping 200 EMA and previous price-action highs could be a nice spot for price to go.

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Good trading. Always manage your risk exposure, by limiting your trading size and leverage, according to your account size.

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